MMM's Environmental Partners Heather Friedman, Wyatt Kendall, and Stephen McCullers discussed how federal regulation of PFAS is adding complexity to the commercial real estate industry with Westlaw Today.
Earlier this month, two per- and polyfluoroalkyl substances — perfluorooctanoic acid (PFOA) and perfluorooctane sulfonic acid (PFOS) — for the first time became designated as hazardous substances under the federal Superfund law, the Comprehensive Environmental Response, Compensation & Liability Act (CERCLA) (the "Rule"). This new Rule marks a profound shift in the federal regulation of PFAS, with significant implications for the real estate industry. It will impact nearly every real estate transaction and development and create a host of challenges and headaches for the real estate industry, including:
- increased liability risks, including with respect to properties with prior regulatory closure;
- heightened due diligence requirements and transaction risks; and
- expanded and costly development requirements.
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